Industries around the globe have seen a significant rebound in 2023. The used equipment market is strong in industries across the board in 2023 and is expected to continue in 2024.
The global printing market is expected to reach $821 billion in 2024. The growth is driven by various sectors including commercial printing, packaging, and office printing.
According to Ritchie Bros Marketwatch, truck tractor prices are showing rates of deflation. Prices were down 24% compared to the same time period in 2022. Retail sales volume and 2023 prices saw a modest 3% increase over 2022.
The market for robots in the automotive sector is expected to grow at a significant CAGR (Compound Annual Growth Rate) over the 2023 to 2028 forecast period.
New orders for machine tools in 2023 have been extremely robust. Prices for used machine tools remain strong.
The demand for agricultural equipment is expected to remain strong throughout 2024. Equipment values continue their slow rate growth.
Construction equipment prices at resale and auction are continuing to plateau. A strong construction season and positive signs that manufacturers are solving supply chain issues have energized an equipment market that has been marked by rising prices and a scramble to source used equipment.
The plastics equipment industry is expected to see an overwhelming hike in demand by 2027. The plastic processing machinery market is expected to be at a CAGR of 4.45%. The industry is seeing significant growth in demand for plastic processing equipment.